Logicalis eyes UK acquisitions
Got the green
Bosses at reselling monster Logicalis may be on the look out for a UK managed services acquisition, after revenues crept towards $1bn for the last year.
Last week, the firm reported revenue growth of 37 per cent for the year ending 28 February, including $43m from acquisitions made during the year. Sales hit $696m, and chief executive Ian Cook said he will be disappointed if the firm does not break the $1bn barrier next time round.
The tasty results inevitably prompted more acquisition chatter. Cook told CRN: "It would have to be something that complements our business; in the UK we want to bolster our managed services business and in the US we want to get further into unified communications, so this is two areas where we may consider an acquisition."
Operating profit was $18.8m, up from $11.6m a year earlier. The firm said that as well as considering more buys in the UK and US, it will eye expansion in developing markets in central Europe and Asia.
Logicalis' South African parent company, Datatec, reported a 17 per cent increase in revenues to $3.2bn, netting an operating profit of $100m, up from $69m in 2006. ®